Ms. Ruby Sahota, Member of Parliament for Brampton North, wants to share information about new tax changes at the federal level that will positively affect our
middle class and those working hard to join it. These changes include:
-Decreasing the Small Business Tax rate from 10% to 9% which will provide up to $7500 in
savings for small business owners a year. When we formed government the small business tax was
11.5%; now it is one of the lowest small business tax rates in the world. Small businesses make up
98% of all Canadian businesses and employ 8 million hard working Canadians.
-Changing the Canada Pension Plan premium from 4.95% to 5.1% on earning between $3,500 and
$57,400. These enhancements will increase the maximum CPP retirement benefit by about 50%
for those who make enhanced contributions for 40 years, supporting Canadians as the cost of
-Decreasing Employment Insurance premiums from $1.66 to $1.62 per $100 of insurable earnings.
-Increasing the Canada Workers Benefit for lower income workers, which helps low income
earners stay employed as experts say that more than half of all Canadians who live in poverty are
working. Continue reading “Federal Tax Changes coming into effect in the New Year”
The Prime Minister, Justin Trudeau, today concluded his visit to Chicago, San Francisco, and Los Angeles. During his visit, the Prime Minister met with several political and business leaders to underscore the importance of the Canada-US relationship, and create more opportunities for Canada’s middle class.
In Chicago, the Prime Minister met with Illinois Governor Bruce Rauner and Mayor of Chicago Rahm Emanuel to discuss the importance of the North American Free Trade Agreement (NAFTA), as well as climate change, cross border tourism, and the energy sector. He also spoke to students at the University of Chicago Institute of Politics, where he stressed the importance of civic duty, youth engagement, gender equality, and multiculturalism.
In San Francisco, Prime Minister Trudeau met with global business leaders to promote Canada as one of the best places to invest. He met with Chief Executive Officer of Salesforce Marc Benioff, who announced that his company would invest US$2 billion over the next five years in Canada. This investment will expand Salesforce’s client relationship management services and lead to the creation of thousands of good, middle class jobs. The Prime Minister also met with AppDirect President and Chief Executive Officer Daniel Saks, who announced that he would create 300 new jobs and expand the company’s footprint in Canada.
The Prime Minister also held meetings with Amazon Chief Executive Officer Jeff Bezos, AMGen Chairman and Chief Executive Officer Robert Bradway, and eBay President and Chief Executive Officer Devin Wenig. Continue reading “Prime Minister concludes visit to the United States”